Zurich Futura Whole Life Insurance

Zurich Futura Whole Life Insurance policy is offered by Zurich Insurance Group in more than 200 countries and territories. When it comes to securing your financial future and ensuring peace of mind for your loved ones, Zurich Futura Whole Life Insurance stands out as a comprehensive solution. This policy offers lifelong protection with a guaranteed death benefit. Designed for both security and flexibility, Zurich Futura is an essential tool in long-term financial planning.

What is Zurich Futura Whole Life Insurance UAE?

Zurich Futura Whole Life Insurance is a unit-linked policy that offers financial protection for you and your family in the case of death, serious sickness, accident, or incapacity. It is a protection policy that covers your family in case of your sudden demise during the policy tenure.

If you, the policyholder, pass away while the policy is active, your beneficiaries will receive the amount. Additionally, you have the option to add coverages like critical sickness and permanent and total disability benefits and more, which offers financial support for situations that may occur during your lifetime.

Policy Term

Age

Cover

Payment Frequency

YearlyMonthly

What are the Perks of Choosing Futura Insurance?

Futura offers a range of benefits that allow you to customize your insurance plan to fit your specific needs. Let’s see what other Zurich Futura benefits you get -

Protection for illness - Financial support for critical illnesses like cancer, heart attack, and stroke.
Flexible coverage terms - Choose lifelong coverage or a specific period based on your requirements.
Funeral coverage - Up to USD 7,500 for funeral expenses.
Transportation Coverage - Up to USD 1 million coverage, if you pass away while traveling as a fare-paying airline passenger.
Life Event Increase Option - Increase your benefits within 90 days of major life events like marriage or having a baby, without extra approval.
Medical Second Opinion - Get a second opinion from top doctors for serious health issues or a vital health question.
Flexible premium payments - Pay premiums over 7 to 50 years, with options like paying over 10 years for lifelong coverage.
Invest your funds - Invest your premiums in various funds to potentially grow cash value.
Dedicated claims support - Zurich’s specialists provide smooth and stress-free guidance through the claims process.

Add-ons for Futura Zurich Life Insurance

You can enhance your Futura Insurance policy with the following optional benefits that can be added or removed as per your current requirements-

Accidental death benefit
Critical illness or Cancer cover
Family income benefit
Dismemberment benefit
Fixed-term income benefit
Hospitalization benefit
Permanent and total disability
Waiver of premium

Critical Illness and Cancer Cover Benefits

Here are the critical illness and cancer cover benefits you will receive-

Benefit	Coverage	Impact on Policy	Children’s Coverage
Critical Illness	Provides a cash sum on the diagnosis of specified critical illnesses or covered procedures	Claims reduce or may end	Coverage Age: From the first birthday to the day before the 19th birthday. Claim Amount: Up to USD 15,000 or 10% of the sum insured per claim. Claim Limit: Maximum of three claims per child. Policy Impact: Claims do not affect the main benefit or policy value.
Cancer Cover	Provides a cash sum for diagnosis of listed cancers or covered procedures	Claims reduce or may end	Same as that under Critical Illness (as mentioned above)

Things to Know About Futura Zurich Life Insurance

Below are some important things that you should know about Zurich Futura before applying-

Long-Term Commitment - Futura Life Insurance is a long-term investment. Stopping or reducing payments, may cause the policy to lapse, resulting in loss of benefits with no value.
Investment Risks - The value of your policy depends on the performance of your chosen funds and is not guaranteed to increase.
Payment Adjustments - If your fund's return is lower than expected, you might need to increase payments or add a lump sum to keep your benefits. Additionally, if your payment term has ended, you may need to restart payments.
Withdrawals - If you withdraw funds and your policy value isn't enough to cover ongoing charges, your policy could end with no remaining value.
Policy Charges - Charges apply as outlined in your policy document and may be subject to change with notice.
Tax Implications - Depending on your situation and location, you might need to pay tax on your policy's proceeds.

Types of Futura Insurance Policy

Below are the options available for you to choose from. You can opt for the one that suits your requirements the best-

Single Life Only: Ideal for the main wage earner who wants to leave a legacy or plan their estate. You can add another person later and change the policy to cover both lives.
Joint Life First Death: Suitable for couples or business partners who want coverage for the first death only. The policy ends after the first insured person dies helping to cover debts like a mortgage.
Joint Life Both Death: Provides independent coverage for each person. The policy pays out after the first death and continues to provide coverage for the surviving person.
Joint life last death: Designed for couples who want to leave a legacy. The policy provides a payout only after the demise of the last insured person

How Do Futura Zurich Life Insurance Payment Options Work in the UAE?

Here’s how Futura Zurich’s premium payment options work-

Single Premium: Make a one-time upfront payment.
Regular Premiums: Pay regularly until you turn 96 or for a shorter period of 7 to 50 years (known as a ‘vanishing premium’).
Payment Frequencies: Choose from monthly, quarterly, half-yearly, or annual payments.
Currency Options: You can select your preferred currencies: GBP, EUR, AED, BHD, QAR, and USD.

The following are the minimum regular and single premium amounts:

Regular Premiums (in USD)

Monthly	Quarterly	Half-yearly	Yearly
150	450	900	1800

Note: Regular premiums can be paid via UAE direct debit, standing order, cheque, credit card, or TT.

Single Premium (in USD)

Single Premium	Additional Single Premiums
15,000	5,000

Note: Single premiums can be paid by cheque or TT.

Eligibility Criteria to Apply for Zurich Futura

The following are the eligibility criteria to apply for Zurich Futura Whole Life Insurance in UAE-

Life Cover and Family Income Benefits: Age must be between 18 and 74 years.
Optional benefits: Age must be between 18 and 64 years (most benefits will stop at the age of 70).

Futura Insurance Fees and Charges

You might need to pay regular or single premium, administration charges or currency switch charges. Let’s look at the rate applicable-

Regular Premium Charge:

Policy Months	Charges (%)	Allocation Rate (%)
1 to 2 years	50	50
3 to 5 years	7	93
6+ years	2	98

Single Premium Charge: 92% of your premiums are allocated for single premium, which means a charge of 8% applies to all single premiums. This charge is deducted from your premium before it is added to your policy.
Administration Charges: A policy charge of USD 7.5 gets deducted on the first of every month by canceling units in your funds.
Benefit Charges: Benefit charges are based on age, gender, smoker status and other personal details, as well as the levels of cover required. These are deducted on the first of every month and increase yearly.
Currency Switch Charge: There is a 0.175% fee on the value when you switch between funds with different currencies.
Currency Exchange Charge: This charge applies in the following situations:
- When the currency received differs from your policy currency.
- When buying or selling units in a fund with a currency different from your policy currency.
- When making payments or claims in a currency different from your policy currency.

Note: The currency exchange charge is included in the exchange rates used for each transaction and is not deducted separately from your policy.

Important Steps to Manage Your Zurich Futura Policy in UAE

When applying for the policy, answer all questions fully and truthfully.
Inform about any changes in your health, family history, occupation, or if you start any risky activities between signing the application and when your coverage starts.
Ensure all premiums are paid as detailed in your personalized illustration, or make any changes required due to policy updates or reviews.
Notify them if you move to a different country or experience other major changes in your personal situation.
Get advice before making any changes to your policy.
Fully understand the details of your policy and the funds you choose, including the associated risks and charges.

Frequently Asked Questions

Zurich Futura withdrawal will have an impact on how long the coverage lasts. If the insurance value is decreased to zero, coverage ends and the policy expires.

Zurich Insurance Group is generally considered a reputable and reliable life insurance provider. With operations in over 200 countries, Zurich provides international coverage and support, which is beneficial for expatriates and those living abroad.

Zurich Life Insurance provides financial protection by paying a death benefit or other covered amounts. You pay premiums, and Zurich manages the policy and pays out benefits according to the policy terms.

Disadvantages include potentially high charges, variable investment performance, and the need for ongoing premium payments to keep the policy active.

Zurich Futura is generally well-regarded for its flexibility and range of options. It is designed to provide different coverage options to meet your specific needs.

Inform Zurich about the claim as soon as possible and submit the policyholders’ medical records. If you're claiming a waiver of premium, the insured might need to undergo a medical examination or testing, which will be at your own expense.

If premiums are not paid for more than 90 days, the policy will be considered 'paid up' and the policy value will be used to support the ongoing expenses or your policy may lapse or become inactive. This means you could lose your coverage and any accumulated benefits.

Yes, you can adjust benefit amounts and add or change additional benefits. Changes may affect your premium levels and might require meeting additional requirements.

The critical illness benefits cover stroke, lung disease, liver failure, heart attack, dementia, cancer, blindness, HIV infection, kidney failure, and more.

Yes, you have the right to cancel your policy within 30 days of receiving the documentation for a full refund of your premiums. To cancel your coverage before receiving your policy documentation, contact your financial professional.

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